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SEACOAST MARINE FINANCE DIVISION IS OPENED FOR BUSINESS- TO BE HEADQUARTERED IN FORT LAUDERDALE, FLORIDA Stuart, Florida - First National Bank and Trust Company of the Treasure Coast, a subsidiary of Seacoast Banking Corporation of Florida (NASDAQ: SBCFA), has formed a new division to be known as Seacoast Marine Finance. The new division opened for business today with Lang B. Ryder serving as Senior Vice President and manager. Seacoast Marine Finance will be headquartered in Fort Lauderdale, regarded by many as the yachting capital of the world. "The marine industry is stronger than ever," stated A. Douglas Gilbert, President of First National Bank. "We have a long and successful history of providing marine financing to bank customers residing in our markets. With Lang Ryder's leadership, we will significantly expand our presence throughout the U.S." According to Gilbert, the headquarters for Seacoast Marine Finance will be in Fort Lauderdale because it is the hub for marine finance in the southeastern United States. Seacoast Marine Finance will direct its marketing to the southeast and will focus on transactions of $200,000 and greater. Ryder will establish expanded sales and service through First National Bank's 24 offices along Florida's east coast, and with numerous yacht brokers and marine dealers in Florida and other states. Ryder is well known in the marine finance industry with 12 years experience in the field and over 20 years experience in boating. "I grew up around boatyards. It's exciting for me to be able to combine my personal interest in the marine industry with my profession." comments Ryder. "The success of our new division will be driven by our proven professional team, our competitively priced products and our relentless focus on service and responsiveness". Ryder joins Seacoast Marine Finance from Bank of America where he was Senior Vice President of Marine Financial Services. He was previously with Barnett Marine Financing Service and GanisCredit Corporation, a BankBoston Company. Ryder received his bachelor's degree from Tulane University and is a member of the Marine Industries Association of South Florida and the South Florida Yacht Brokers Association. Joining Ryder in the new company will be his team of marine lending experts. Steve Donnell will serve as Vice President and Leigh Ackerman and Patrice Brantley as finance representatives. Donnell and Ackerman were also with Bank of America Marine Finance and GanisCredit Corporation. The office will be located at 2601 East Oakland Park Boulevard, Suite 601, Fort Lauderdale, Florida. The phone number is (954) 630-3430, or toll free (877) 916-2326. Seacoast Banking Corporation, headquartered in Stuart, Florida, has reported assets of over one billion dollars and 24 banking offices in some of the wealthiest markets in Florida. | ||||||||||||||||
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